The funds collected from peaq (https://www.peaq.io/)’s first funding round will be used to continue research and development until the end of 2018. The peaq (https://www.peaq.io/) team will focus on simulations and testing on consensus mechanisms for the peaq (https://www.peaq.io/)protocol. This will be the all-important foundational layer for smart-contract capabilities in the future.

The end goal of peaq (https://www.peaq.io/) is to have a functional and efficient base-layer protocol capable of overcoming the main drawbacks seen in traditional blockchain systems and consensus problems currently found in DAGs. Once completed, the protocol could be used by Advanced Blockchain AG (https://www.advancedblockchain.com/) for a variety of real-world projects in industries such as the IoT, as well as the automotive, financial and mechanical engineering industries, among others.